US/India WTO Agreement: How Corporate Greed Trumps Needs of World's Poor and Hungry
A fact sheet from the U.S. Trade Representative explains that there are two parts to the deal that broke what had been an impasse over agreements from Ministerial meeting last year in Bali.
The first is that the two countries stated they would move forward on the Trade Facilitation Agreement (TFA)—the WTO's first multilateral trade agreement of the body's two-decade existence. The second is an agreement on India's food security program, which allows for domestic "food stockpiling."
But as the Transnational Institute (TNI) pointed out in a report released this week: "The big question is why do governments even need the WTO to decide whether they can guarantee the right to food to their people? The right to food is a universal human right that should not be subject to trade rules."
The report also notes that the need for such a peace clause highlights the "deep hypocrisy embedded within the WTO," as the EU and the U.S., unlike India and other developing countries, are able to pour billions into their own agricultural subsidies.
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